The General Rule Regarding Acceptance Is

question 180

Multiple Choice

The general rule regarding acceptance is:

• A) an acceptance is a void unless received by offeror within forty-eight hours of the offer
• B) all acceptances are valid and binding on offerors
• C) acceptances are valid when received by offerors
• D) an acceptance will be valid only if mailed to offeror
• E) none of the other choices

---

Definitions:

Contra Asset Accounts

Accounts on a balance sheet that have a credit balance and are used to offset the debit balances in related asset accounts, such as accumulated depreciation.

Total Amount

The cumulative sum or aggregate of all quantities or figures considered, often referring to the final sum of a series of transactions or the overall value of financial accounts.

Share Capital

The funds raised by a company through the issuance of shares, representing the amount that shareholders have invested directly in the company.

Dollar Amount

The value of an item, transaction, or financial figure expressed in units of currency.